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Unit 13 Review
Test Description: Unit 13 review
Instructions: Answer all questions to get your test result.
1) in a command economy, how is it determined what goods and services will be produced
A
supply and demand
B
busineses decide
C
consumers decide
D
central gov planning decides what will be produced
2) which nations economy could be considered command
A
north korea
B
japan
C
australia
D
india
3) the north korea gov controls every aspect
A
market
B
mixed
C
command
D
traditional
4) which nation is best example of mixed
A
india
B
vietnam
C
china
D
north korea
5) changes in chinas economy...
A
increased reliance on command
B
chinas isolation
C
china's shift to greater market
D
chinas economic stagnation
6) its the worlds second largest econ
A
japan
B
north korea
C
vietnam
D
india
7) one of only few commands still left
A
india
B
vietnam
C
japan
D
north korea
8) gov owns all
A
market
B
traditional
C
new
D
command
9) which definition is best for market
A
gov decides more
B
gov decides
C
prices determined by buyers and sellers
D
goods sold in large stores
10) one country is more market and other is more closed, both powerful militaries
A
india and japan
B
china and india
C
china and japan
D
north korea and china
11) why is system of currency exchange needed?
A
they only accept gold and silver
B
there must be a way to pay for goods in different countries
C
they only use us dollars
D
nearly all world currencies are worthless
12) a tariff is tax on
A
food
B
exports
C
imports
D
services
13) an import quote is a
A
legal limit on imports
B
legal limit on exports
C
no more trading
D
tax on imports
14) during war which is used
A
subsidy
B
embargo
C
quota
D
tariff
15) why tariff or quota?
A
to make goods cheaper
B
to expand markets
C
to protect domestic jobs
D
to stimulate the economy
16) which nation has lowest lit rate?
A
japan
B
india
C
china
D
vietnam
17) which statement is true?
A
japan has higher gdp and higher lit rate
B
there is no relationship...EVER!!!!!
C
china has lower lit rate but higher gdp
D
japan has lower lit rate but higher gdp
18) a problem with japans economy is
A
too much money
B
lack of natural resources
C
too much land
D
lack of trading partners
19) why does japan have low growth?
A
india provided japan with loans for factories
B
japans economic reporting is faulty
C
japans economy is already developed and robust
D
japan has borowed vast amounts of money from china?
20) why does india rank at the bottom?
A
lit rate 65%
B
big land area
C
big population
D
government type
*select an answer for all questions
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